WEATHER
The report also highlighted severe infrastructure and agricultural stress.
Brian Grete, Pro Farmer Editor, says soybeans roll over and make new lows for the move on China U.S. trade tensions, which weighed on corn.
Brad Kooima, Kooima Kooima Varilek, says cattle rally chasing record cash with the basis historically wide.
These space weather events can disturb the Earth’s magnetic field and at this severe level cause “more frequent and longer periods of GPS degradation.”
Allison Thompson with The Money Farm, says it was a lower week in the grains on a combination of technical selling, weather and trade uncertainty.
Scott Varilek, Kooima Kooima Varilek, says cattle futures are chasing exploding cash early Friday, with more record high prices paid in all areas. Corn and soybeans continue to be weak with mostly favorable weather.
Kent Beadle of Paradigm Futures says, unlike the financial markets, the ag futures did not see the positive reaction to the ITC court ruling declaring the “Independence Day” tariffs as illegal.
Darin Newsom, Barchart, says the financial markets have reacted positively to the International Trade Commission’s court ruling against the Trump tariffs, declaring them unlawful. However, the ag markets are disregarding the news.
Matt Bennett with AgMarket.Net says corn and soybeans saw heavy technical or fund selling pressure on Wednesday, some of it in the grains was tied to weather.
Randy Martinson, Martinson Ag, says wheat is seeing some strength from lower crop conditions,.